Alphaenergy Belgradehttps://alphaenergybelgrade.wordpress.com
All about energyThu, 09 Mar 2017 23:31:33 +0000enhourly1http://wordpress.com/https://secure.gravatar.com/blavatar/ba65e83e9cba985b4ec6ab5f288e4bd8?s=96&d=https%3A%2F%2Fs2.wp.com%2Fi%2Fbuttonw-com.pngAlphaenergy Belgradehttps://alphaenergybelgrade.wordpress.com
IEA: Global energy efficiency market ‘an invisible powerhouse’ worth at least USD 310 billion per yearhttps://alphaenergybelgrade.wordpress.com/2014/10/08/iea-global-energy-efficiency-market-an-invisible-powerhouse-worth-at-least-usd-310-billion-per-year/
https://alphaenergybelgrade.wordpress.com/2014/10/08/iea-global-energy-efficiency-market-an-invisible-powerhouse-worth-at-least-usd-310-billion-per-year/#respondWed, 08 Oct 2014 09:49:22 +0000http://alphaenergybelgrade.wordpress.com/?p=2062]]>The global energy efficiency market is worth at least USD 310 billion a year and growing, according to a new report from the International Energy Agency that confirms the position of energy efficiency as the world’s “first fuel”. The report also finds that energy efficiency finance is becoming an established market segment, with innovative new products and standards helping to overcome risks and bringing stability and confidence to the market.

The annual report, now in its second year, shows that investments in energy efficiency are helping to improve energy productivity – the amount of energy needed to produce a unit of GDP. Among 18 IEA countries evaluated in the report, total final energy consumption was down 5% between 2001 and 2011 primarily as a result of investments in energy efficiency. Cumulative avoided energy consumption over the decade from energy efficiency in IEA countries was 1 732 million tonnes of oil equivalent – larger than the energy demand of the United States and Germany combined in 2012.

Previous IEA analysis has shown that energy efficiency is not just a hidden fuel but is also the “first fuel” in the IEA’s largest economies. This year’s report shows that energy efficiency investments over the past four decades have avoided more energy consumption than the total final consumption of the European Union in 2011. Efficiency investments and policies are reducing a continent’s worth of energy demand in a time when fast-developing economies are adding energy demand to the global energy system.

Indeed, the report reveals that huge potential for energy efficiency exists in emerging economies outside the OECD, with efficient vehicles and transport infrastructure a major opportunity. The IEA estimates that efficiency can reduce up to USD 190 billion in fuel costs in transport globally by 2020 and can help alleviate local air pollution and even address critical congestion issues in rapidly developing urban transport systems.

According to the IEA, some 40% of the global energy efficiency market is financed with debt and equity, meaning that the financial market for energy efficiency is in the range of USD 120 billion per year. The number of products and the volume of finance have greatly expanded in recent years, with green bonds, corporate green bonds, energy performance contracts, private commitments, carbon and climate finance, and multilateral development banks and bilateral banks all offering expanded sources of finance for energy efficiency improvements. Bilateral and multilateral lending alone amounted to more than USD 22 billion in 2012.

“Energy efficiency is moving from a niche interest to an established market segment with increasing interest from institutional lenders and investors,” said the IEA Executive Director. “As energy efficiency is essential to meeting our climate goals while supporting economic growth, the increasing use of finance is a welcome development. To fully expand this market, initiatives to continue to reduce barriers will need to strengthen.”

Energy efficiency represents the most important plank in efforts to decarbonise the global energy system and achieve the world’s climate objectives: in the IEA scenario consistent with limiting the long-term increase in global temperatures to no more than 2 degrees Celsius, the biggest share of emissions reductions – 40% – comes from energy efficiency.

]]>https://alphaenergybelgrade.wordpress.com/2014/10/08/iea-global-energy-efficiency-market-an-invisible-powerhouse-worth-at-least-usd-310-billion-per-year/feed/0iea-international-energy-agency-logoalphaenergybgPlatts: China cuts 2020 shale gas output target as challenges persisthttps://alphaenergybelgrade.wordpress.com/2014/09/19/platts-china-cuts-2020-shale-gas-output-target-as-challenges-persist/
https://alphaenergybelgrade.wordpress.com/2014/09/19/platts-china-cuts-2020-shale-gas-output-target-as-challenges-persist/#respondFri, 19 Sep 2014 10:13:09 +0000http://alphaenergybelgrade.wordpress.com/?p=2057]]>China has slashed its official target for shale gas production in the medium term by up to a third and now expects to achieve 30 billion cubic meters of output by 2020, according to the country’s Ministry of Land and Resources at a briefing in Beijing Wednesday, September 17.

Production this year will likely total 1.5 Bcm and is expected to exceed the government’s 2015 target of 6.5 Bcm next year, said Peng Qiming, director of geological exploration at the ministry, according to its website.

Based on the current pace of development, overall shale gas output will rise to 15 Bcm/year by 2017, before hitting 30 Bcm/year by 2020.

“If measures are appropriate, there is hope that production can reach 40-60 Bcm, accounting for roughly a fifth of total gas output,” Peng said.

The ministry’s briefing comes after earlier concerns that while China will achieve the 2015 target, it faces extreme challenges reaching the longer-term target of 60-100 Bcm by the end of the next five-year economic plan in 2020.

Both output targets were set in 2012, when the National Energy Administration said the priority to 2015 would be on exploring and developing reserves, with a view to realizing large-scale commercial production by the end of the decade.

According to Bulgaria’s caretaker deputy premier for economic policy Ekaterina Zaharieva, the Russian gas supplies are highly likely to be affected by tensions between Moscow and Kiev prompted by a dispute over prices.

Zaharieva told reporters in Sofia on Wednesday that the cabinet is concerned that the dispute, which hasn’t been resolved yet, may lead to a repeat of the crisis of January 2009, when Russia halted gas deliveries to Europe via Ukraine for two weeks. Bulgaria was among the EU countries worst hit by the stoppage.

The European Union, Russia and Ukraine are expected to resolve the price issue at a trilateral meeting but yet another delay to those talks has fuelled concerns that a new gas supply crisis is looming. Bulgaria, which relies almost entirely on Russian supplies to meet its gas needs, takes delivery of those supplies only through a pipeline via Ukraine.

]]>https://alphaenergybelgrade.wordpress.com/2014/09/19/he-djerdap-2-u-normalnom-rezimu-rada/feed/0epsalphaenergybgGazprom supplying gas to Europe in line with contractual obligationshttps://alphaenergybelgrade.wordpress.com/2014/09/19/gazprom-supplying-gas-to-europe-in-line-with-contractual-obligations/
https://alphaenergybelgrade.wordpress.com/2014/09/19/gazprom-supplying-gas-to-europe-in-line-with-contractual-obligations/#respondFri, 19 Sep 2014 09:48:12 +0000http://alphaenergybelgrade.wordpress.com/?p=2049]]>A working meeting between Russian President Vladimir Putin and Gazprom Management Committee Chairman Alexey Miller took place today.

Alexey Miller reported to Vladimir Putin that European consumers were receiving gas supplies entirely in line with contractual obligations. The total accumulated gas supplies for export exceeded the planned amount by 3 billion cubic meters by early September.

According to the Hydrometcenter forecasts, the upcoming wither in Russia will be colder than usual. In this regard, Gazprom’s prioritized activity now is gas injection into underground gas storage (UGS) facilities. The Company raised the planned amount of working gas for injection into Russian UGS facilities to 72 billion cubic meters. This is the maximum amount that will be pumped in Russian UGS facilities in the entire history of the gas industry. Now the gas storages contain 63.5 billion cubic meters of working gas. It is planned to complete the injection within the next six weeks.

Gazprom is also filling up UGS facilities in Europe. The Company has already pumped 3.8 billion cubic meters into European gas storages. Overall, it’s planned to pump 5 billion cubic meters.

The Power of Siberia (eastern route of Russian gas supplies to China) is progressing according to schedule. The negotiations have been initiated concerning gas supplies from Western Siberia to China via the western route.

Alexey Miller stressed that Gazprom was ready to meet the growing demand in the Chinese market, in the east, and in the European Union as well.

The meeting paid special attention to the regional gasification in Russia.

]]>https://alphaenergybelgrade.wordpress.com/2014/09/19/gazprom-supplying-gas-to-europe-in-line-with-contractual-obligations/feed/00,,10268~11066578,00alphaenergybgIEA releases Oil Market Report for Septemberhttps://alphaenergybelgrade.wordpress.com/2014/09/16/iea-releases-oil-market-report-for-september-2/
https://alphaenergybelgrade.wordpress.com/2014/09/16/iea-releases-oil-market-report-for-september-2/#respondTue, 16 Sep 2014 18:04:58 +0000http://alphaenergybelgrade.wordpress.com/?p=2041]]>The IEA Oil Market Report (OMR) for September trimmed global oil demand growth for 2014 and 2015 to 0.9 million barrels per day (mb/d) and 1.2 mb/d, respectively, because of a pronounced slowdown in demand growth in the second quarter of this year and a weaker outlook for Europe and China. Demand in 2015 is now set at 93.8 mb/d, the monthly report informed subscribers.

Global supply declined 400 000 barrels per day (400 kb/d) in August, to 92.9 mb/d, as non‐OPEC production eased. Also, non-OPEC production fell by 130 kb/d in August to 30.31 mb/d as a steady recovery in Libya failed to offset lower supply from Saudi Arabia and Iraq. But compared with August 2013, global supply rose 810 kb/d as a 1.2 mb/d rise in non‐OPEC output more than offset a 370 kb/d year-on-year drop for OPEC. Non‐OPEC supply is set to expand by 1.6 mb/d in 2014, and 1.3 mb/d in 2015, to reach 57.6 mb/d.

The weaker demand outlook as well as robust non-OPEC supply growth led the OMR to trim its “call on OPEC crude and stock change” by 200 kb/d for the fourth quarter of this year to 30.6 mb/d and 300 kb/d for 2015 to 29.6 mb/d.

OECD industry inventories built seasonally by 15.5 mb in July, to 2 670 mb, on soaring US stocks of “other products”. Preliminary data indicate that stocks continued their upward trajectory in August, rising by 19.5 mb, further cutting the deficit to the five‐year average, which stood at 57 mb/d at end‐July.

OMR subscribers this month can also read in-depth articles on the Mexican energy reforms, how US refiners are adjusting to changing feedstocks and “Does the Return of Contango Signal an Uptick in Floating Storage?”.

The Oil Market Report (OMR) is a monthly International Energy Agency publication which provides a view of the state of the international oil market and projections for oil supply and demand 12-18 months ahead. To subscribe, click here.

Source: IEA, 2014

]]>https://alphaenergybelgrade.wordpress.com/2014/09/16/iea-releases-oil-market-report-for-september-2/feed/0iea-international-energy-agency-logoalphaenergybgRT: Sanctions Against Russia Could Spur $150 oilhttps://alphaenergybelgrade.wordpress.com/2014/09/16/rt-sanctions-against-russia-could-spur-150-oil/
https://alphaenergybelgrade.wordpress.com/2014/09/16/rt-sanctions-against-russia-could-spur-150-oil/#respondTue, 16 Sep 2014 18:01:57 +0000http://alphaenergybelgrade.wordpress.com/?p=2042]]>Western sanctions against Russia, coupled with ongoing political instability in Libya and the advance of ISIS militants in Iraq, could leave the global oil supply exposed and push up oil prices to $150 per barrel, former BP chief Tony Hayward has warned.

The former CEO of BP and now chairman of Glencore Xstrata said the recent boom in US shale production has painted an unrealistic image of the world’s global oil supply, and created a false sense in energy security.

“The world has been lulled into a false sense of security because of what’s going on in the US,” Hayward said in an interview with the Financial Times.

The hydraulic fracturing boom in the US began in 2008 and has increased US crude output by 60 percent, but Hayward warned it could wane.

“When US supply peaks, where will the new supply come from?” Hayward said.

Instability in oil producing countries in the Middle East, such as Libya and Iraq, in theory would have driven up oil prices to $150 per barrel, had it not been for the new supply from North America.

So far, Brent crude has fallen from about $108 a barrel at the start of the year to about $97 today.

Hayward said oil supplies from the North Sea and Alaska are nearing maturity, and the world oil supply is dependent on new wells in places such as Russia, Iraq, and Canada.

Rosneft’s Bazhenov field may be even larger than the North Dakota Bakken shale shelf, which currently produces 1 million barrels of oil per day and has brought about the shale revolution in the America.

The annual meeting had been planned long before oil fell below the $100 per barrel level critical for Russia’s oil sales which account for 40 percent of state budget revenues.

Russia suffered from a decline of oil production and prices this year and has cut its outlook for oil output as core Western Siberian fields become more depleted.

The spokeswoman said that Novak and the officials from the Organization of the Petroleum Exporting Countries had not planned to discuss the prices of oil, which hit 26-month low for Brent crude on Monday.

However, a government source told Reuters that the measures to prop up the prices have long been discussed at the ministry.
“The talk of closer cooperation with OPEC on prices have long been there,” he said.

So far, Russia, the world’s top producer of conventional oil, has ruled out coordinated action with OPEC to halt the price decline.

Oil prices have slid due to concern about weakening demand and ample supplies, raising the question of whether Saudi Arabia, holder of the world’s largest spare output capacity, will curb output. Brent crude fell below $100 last week for the first time in 14 months.

OPEC oil ministers have not expressed pressing concern about the drop in prices, seeing it as a temporary dip and predicting prices will rise as higher seasonal demand arrives with colder weather.

Russia has had a bumpy relationship with OPEC, with pronouncements of interest in acting together not resulting in significant action, even after the price slump of 2001-2002.

Oil ministers from the Middle East Gulf said last week the oil price drop was unlikely to spur action by the OPEC unless crude fell below $85 a barrel.

This is less than the $104 per barrel on average written into the 2014 Russian budget.

Most analysts expect oil prices to fall in the coming years as new production, including from unconventional sources in North America, applies downward pressure to markets, with some forecasts going as low as $70 per barrel for Brent crude oil in 2020 from $96.6 currently.

]]>https://alphaenergybelgrade.wordpress.com/2014/09/16/oil-price-falling-russias-energy-minister-to-meet-opec/feed/0oil-01alphaenergybgIEA: Energy efficiency: a key tool for boosting economic and social developmenthttps://alphaenergybelgrade.wordpress.com/2014/09/16/iea-energy-efficiency-a-key-tool-for-boosting-economic-and-social-development/
https://alphaenergybelgrade.wordpress.com/2014/09/16/iea-energy-efficiency-a-key-tool-for-boosting-economic-and-social-development/#respondTue, 16 Sep 2014 17:06:31 +0000http://alphaenergybelgrade.wordpress.com/?p=2037]]>The benefits of energy efficiency go well beyond the simple scaling back of energy demand, according to a new report from the International Energy Agency published today. In a study that reframes the discussion about the so-called “hidden fuel”, the IEA shows how energy efficiency has the potential to support economic growth, enhance social development, advance environmental sustainability, ensure energy-system security and help build wealth.

IEA analysis has previously shown that energy efficiency has the potential to boost economic growth while reducing energy demand. But despite the vital role that energy efficiency could play, IEA assessments suggest that under existing policies, two-thirds of the economically viable energy efficiency potential available between now and 2035 will remain unrealised. This is in part because energy efficiency is routinely and significantly undervalued.

The new study, Capturing the Multiple Benefits of Energy Efficiency, challenges the assumption that the broader benefits of energy efficiency cannot be quantified. It shows how it is possible to move beyond qualitative assessments, providing examples of how existing methodological tools can be applied to measure and even monetise the value of energy efficiency to the economy and society.

For instance, the report shows that when the value of productivity and operational benefits to industrial companies were integrated into their traditional internal rate of return calculations, the payback period for energy efficiency measures dropped from 4.2 to 1.9 years. Another example comes in the residential sector: by making homes warmer, drier and healthier, energy efficiency measures can dramatically improve health and well-being. When monetised, for example through the cost of medical care or innovative metrics such as the value of lost work time or child care costs caused by illness, these benefits can boost returns to as much as four dollars for every one dollar invested.

“This report lays out the case for governments to invest more time in measuring the impacts of energy efficiency policies, to improve understanding of their role in boosting economic and social development and to facilitate policy design that maximises the benefits prioritised by each country,” said IEA Executive Director Maria van der Hoeven as she presented the report at the International Energy Policy Evaluation Conference in Berlin. “By adopting the multiple benefits approach advocated by the IEA in this study, governments can help unlock the potential of energy efficiency.”

Energy efficiency may be a hidden fuel, but it is hiding in plain sight. The market for energy efficiency is growing, with aggregate annual investment reaching USD 300 billion in 2012 – equal to investments in coal, oil and gas generation. The resulting savings have been larger than the energy provided from any other fuel, making energy efficiency the “first fuel” for many IEA countries. IEA analysis has also shown that the uptake of economically viable energy efficiency investments has the potential to boost cumulative economic output through 2035 by USD 18 trillion – larger than the current size of the economies of the US, Canada and Mexico combined.